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Well, you have a nice little profit on ELN if you're trading. I cannot tell you how badly this is currently being manipulated, but trust me, it is. They have scared a bunch of people out. Hold this a while and you won't regret it. Got a bunch in my brother's acct. but unfortunately at higher levels. It will all work out.
Yup, got it, with just enough left over to put in a bid on FRPT for 15. Not been that low on trading cash in a very long time. sure hope I'm right about this.
PS Look like the last purchase on ELN was OK. Sure have a lot of it and Fido won't let me trade, so I've got it 'til Thursday at any rate.
I should be, but FIDO isn't showing it. I'll presume that I am and if not, give them a nasty call later.
It seems like my 16.50 bid on ELN is not out of the question. I will have a boat load of that stock. (And nothing left to get more FRPT)
FRPT
15 would be a good price, though they could bring it lower. If I decide to get more, you can bet they will.
Probably a good place, but do you think they might want to retest the lows again? Try for below 15? I'm thinking on it, but with my SPAR buy, I feel I have enough for now.
Bought ELN all the way down. They want to manipulate it this way, I'll play along. I have a final order for shares at 16.50, but for now, it doesn't look like it will get there.
Also bought:
SPAR @ 12
WYE @ 48.12
By the end of the day, I expect to have no ready cash in the account. I will be gone all day tomorrow.
200 MA is below 16. Hard to believe it will get there. I'll be buying again at 17. I'm not on margin, so it is just a matter of riding it out.
Full disclosure:
That was from my wife who is really on top of this one. I've learned to follow her lead (on this stock) as she put her youngest son through collage with ELN trade money.
Yes, they have set the board for the Crohn's advisory panel in such a way that approval might not happen. Personally, I think this is an over reaction, and bought all I could afford at the 105 EMA (18.20). I'm subject to the rule about selling before funds clear, so I will likely hold for a few days. I certainly would not advocate this for everyone.
As you can see, I'm down even more right now.
http://www.pharmalot.com/2007/07/fda-tysabri-panel-violates-new-conflict-rule/
excerpt:
You read it here first. Of the 16 voting members of the two committees meeting Tuesday - the Gastrointestinal Drugs Advisory Committee and the Drug Safety and Risk Management Advisory Committee - three members reported conflicts of interest, and received waivers. One, in particular, appears to violate the FDA’s own, newly proposed rules for panel members
I can count my fishing trips off a boat with one hand. They are expensive. I would be most displeased to land half a fish (or less) even with the camera crew to record the event for posterity. At about that time, I'd be wondering how to get ahold of depth charges and the hell with the whale watchers.
Damn, for all I know, that could have been recorded right here in Puget Sound.
Here's for you, Bishop:
Nice trade. I'm waiting for 17+. Might have a long wait.
Bought ELN @ 18.85. Looking for 20.
Well, today didn't turn as bad as it seemed to be this morning. It's that drip drip drip down for days that's got me on edge. Today was like a lecture from my father: you didn't like it, but you sure knew where you stood. Don't know that I'd have had the nerve to jump into FRPT at 14.75 without you guys doing it first. I'll make it up to you later by being the first one to jump into something stupid where everyone loses money.
What's in the cards tomorrow? Do I get to keep my pants or do I walk home naked (again).
Well...I hope they don't feel the need to retest that level. We have a glorious day outside and I'm right here. Maddening.
We should get paid well for the heartburn today. I'm looking for something over 16 for this little adventure.
Hell, this is my retirement blowing up like a 4th of July display. But, hey, this happens all the time and I'm still in the game. Never seem to get any wiser, though.
Gotta be a safer way to make a living. Juggling chain saws maybe...
This is more exciting than getting robbed of my lunch money on my way to school.
FRPT
Gave me some at 14.75. Come on bounce!
The heck with it. They try that again, I'm in there too.
Maybe we get a "blowoff" bottom in this one. Some serious dumping going on.
At this point, I will wait until it has established itself at a new level. No sense in being the hero. They have shot this one down pretty good. There will be a lot of overhead on an up move, so it might be best to just watch it for a while. My guess is it will eventually establish itself in a very tradeable range. Yeah, I'm hurtin' on this big time. Should have taken my medicine when it broke the 200 day. I seem to have to learn the same lesson over and over...
FRPT
Very painful. Don't know where it will end, but I'm holding on. A little news would help here.
SIGA
Should have followed you guys.
ELN
Bought more this morning.
Think I'll go out and work on the fence this morning, instead of sitting on it here in the office.
ELN
One of those stocks that goes down on good news...
I'm not particularly worried about this one, but then my horizon is perhaps a bit longer than yours. It did not break 20. I'm still of a mind to buy. I think you are good for a flip if it approaches 20. Other than that, it is hard for me to say (for the near term). I still have those July 22.5 calls so I'm hoping...
FRPT has me a bit more concerned. I'm afraid that area between 17.75 and 18 will act as a ceiling now. I will see how it handles that area, then make a decision.
Had family stuff than kept me out of action this morning, but it doesn't look like I'd have done much anyway.
SIGA
Haven't bought any, but where is the support?
ELN
Some. I bought some 22.5 calls on Friday (ELNHX) that I'd be unlikely to hold that long, though they have not moved much since I bought them. For the rest, I think I'm looking for a new high.
As you can imagine, FRPT is taking the wind out of my sails this morning. True bag holder with the bag over my head. Maybe we go to 15? Can't say as I know right now, but it seems to me it will take an extraordinary event to right this one.
Thanks for that. Explains a bunch.
FRPT
No news I can see to justify this drop. I'll take what I can at or below 17.50
ELN
Probably even a better bet in this range. Anything around 20.
Too many distractions for me. I will be concentrating on these two.
FRPT
Put in sell for 18.50. Who knows?
I was out for a bit but had a bid in for the same price and got 'em too. I think we will be fine, but we shall see. Good luck to both of us.
If you get shares, I don't think you will be wrong either short or long term. I have bids in there too. I don't have the guts to go above 18 though. Sure wish that had happened at about 11 am west coast time. Those puts would have doubled in a minute, and yes I'd have dumped them as fast as I could, while buying in the IRA.
That was news from this morning. I don't even think that was the last shoe, but I think someone may have seen the last shoe.
Gives us something to look forward to on Monday.
Hell, even I could have made a quick buck on that one. But now that we've seen it, don't you think it will try and test it again? I mean could this not be a preview of coming attractions?
You know, Early, that 17.50 figure is looking real good again.
Yup, It's something I will never understand. Good idea with the order. Be fearless when this one is under 18. This company just doesn't have news bad enough to justify a sell-off lower than that.
Argh...
Kills me to miss that. The one stock I know how to trade!
Honestly, I have no idea what kind of news would bring it down that sharply that fast. Someone needed drugs?
Maybe...
If you can get a decent price for it this afternoon...but then you guys are the last people I'd ever have to say, "trade it."
FRPT
You snooze, you lose and I was snoozin'. Sure blew it on this one. Should have picked up as many shares as I could carry for under 18. Too late now.
That low was 17.5 right? Somehow I think we will see that again. This would have been so easy though...
FRPT
Sold those puts for .95 (bought at .20). They are currently trading at 1.25, which would have been lovely, but I had a drop-dead time for my sale and the battle right there around 19 made me think that I'd best sell those Julys right then.
I think the 200 day is a valid target; when we discussed this earlier, the 200 was near 17.50. Now it is closer to 18. Keep that in mind next week. (Don't think I'll touch it today unless there is panic selling.) Good to have several targets.
The puts gave me some nervous moments, but more than paid for a new pair of hiking boots. (Can't do anything other than covered calls in IRA, so this was in a very modest margin account.)
I think I'm done for the week. Here's wishing you guys a great weekend.
Jay
PS Notice how they have tried to bring ELN down, but failed each time? Now that could prove to be an interesting close.
Thanks.
Longer term, I'll be fine on that one. My wife has done much research and has been pretty accurate on how it trades. I follow her lead to some degree, but did sell quite a bit near that 23 level. Didn't think that was sustainable.
They might bring it down to 20 today to kill the options. That would be a mighty fine buy if they can do it.
Yeah, next week. Don't expect anything special there, but it will show how much Ty is ramping up. That information is what is likely to drive the stock, saying the market isn't in a general melt-down.